Examples of SPE Component Entity in a sentence
Notwithstanding the immediately preceding sentence, an Independent Director of Borrower or any SPE Component Entity may not simultaneously serve as Independent Director of Borrower or any SPE Component Entity and as an independent director of a special purpose entity that owns a direct or indirect equity interest in Borrower or the SPE Component Entity.
At the request of Lender, Borrower shall execute a certificate in form satisfactory to Lender listing the trade names under which Borrower or the SPE Component Entity intends to operate the Property, and representing and warranting that Borrower or the SPE Component Entity does business under no other trade name with respect to the Property.
There is no action, suit or proceeding, judicial, administrative or otherwise (including any condemnation or similar proceeding), pending or, to the best of Borrower’s knowledge, threatened or contemplated against Borrower, [any Guarantor, Indemnitor, or SPE Component Entity] or against or affecting the Property that has not been disclosed to Lender by Borrower in writing.
Notwithstanding the provisions of this Section 11.1 to the contrary, if any Event of Default as Subsection 10.1(g) shall occur as to Borrower, Master Lessee (if the Master Lease Termination has not yet occurred) or any SPE Component Entity, the entire unpaid Debt shall be automatically due and payable, without any further notice, demand or other action by Lender.
A natural person who otherwise satisfies the foregoing definition other than subsection (i) by reason of being the independent director of a single purpose entity affiliated with Borrower shall not be disqualified from serving as an Independent Director of Borrower (or any SPE Component Entity) if the fees that such individual earns from serving as Independent Director of affiliates of Borrower constitute in the aggregate less than five percent (5%) of such individual’s annual income.